Section 10-9C-1002 (Effective January 1, 2010) Derivative action. - Alabama Statutes

Section 10-9C-1002

(Effective January 1, 2010) Derivative action.

A partner may maintain a derivative action to enforce a right of a limited partnership if:

(1) the partner first makes a demand on the general partners, requesting that they cause the limited partnership to bring an action to enforce the right, and the general partners do not bring the action within a reasonable time; or

(2) a demand would be futile.

(Act 2009-621, §1.)